How Millions Of Naira Belonging To Customers Disappear From Sterling Bank Vault

The management of Sterling Bank Plc is currently in a fix with how to deal with cases of theft leveled against its branch in Iju Road, Iju in Ifako-Ijaiye Local Government Area of the state.

It was scooped that twice within a period of five months, millions of Naira have been withdrawn from saving account numbers 0000886683 and 0068955741 belonging to Providence Heights Secondary School Staff Welfare Association.

It was also gathered that on Thursday, 6 July, 2018, a sum of N1, 200, 000 was stolen from the saving account number 0000886683 by fraudsters suspected working in tandem with some staff of the bank.

The leadership of the association, we gathered had reported the theft to the bank management.

It was further learnt that after the official complaint on the theft by the association’s leadership, the bank refunded N500, 000 to the association. When the association sought for the balance of N700, 000, the bank management refused saying the N500, 000 it refunded was the one intercepted from the N1, 200,000 initially stolen.

While the association was struggling to recover the N700, 000 balances, election ushered in new Executive members for the association.

In order to prevent another theft saga, a new saving account, it was learnt that the new Executive members opened a new saving account, 0068955741 with the same branch of Sterling Bank with new signatories.

But to the utter surprise of members of the association, on Thursday, November 1, 2018, another N1, 700, 000 was stolen in several illegal withdrawals from the account.

However, the leadership of the association is not taking it easy with the bank, hence official complaint has been forwarded to the management of the bank while the Economic and Financial Crimes Commission (EFCC) have also been informed for necessary action.